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29 Broad St

29 Broad St, Bloomfield, NJ 07003

Listing Price: $1,600,000

Cap Rate
8.63%
Gross SF
14,000
Rentable SF
14,000
Price/Gross SF
$114.29
Lot Size
12,080.00 acres
Year Built
1932

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 25-29 Broad Street, a 14,000 square foot retail building located between Bloomfield Avenue and Franklin Street. The current tenant, Joyce Leslie, has a triple net lease and generates a strong net operating income representing an 8.82% cap rate. The property has future multifamily development opportunity.
25-29 Broad Street has direct access to the Garden State Parkway, Route 3, and Route 21. The property is a five minute walk to the Bloomfield Train Station, which offers a direct 30 minute route to Manhattan and is approximately five minutes to the Glenwood Ave Bus Stop. Additionally, the property is located approximately 14 miles from Newark Liberty Airport and 25 miles from Manhattan.
Bloomfield has been at the forefront of the development-boom in Northern New Jersey, featuring numerous new residential complexes and a revitalized downtown.

Investment Highlights

  • The Subject Property can be Developed/Converted with a Variance to Build Apartments
  • Five Minute Walk from the Bloomfield Train Station
  • Direct 30 Minute Route to New York
  • Easy Access to the Garden State Parkway, Route 21, and Route 3

Exclusively Listed By

Listing Price: $1,600,000

Cap Rate
8.63%
Gross SF
14,000
Rentable SF
14,000
Price/Gross SF
$114.29
Lot Size
12,080.00 acres
Year Built
1932

Investment Highlights

  • The Subject Property can be Developed/Converted with a Variance to Build Apartments
  • Five Minute Walk from the Bloomfield Train Station
  • Direct 30 Minute Route to New York
  • Easy Access to the Garden State Parkway, Route 21, and Route 3

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 25-29 Broad Street, a 14,000 square foot retail building located between Bloomfield Avenue and Franklin Street. The current tenant, Joyce Leslie, has a triple net lease and generates a strong net operating income representing an 8.82% cap rate. The property has future multifamily development opportunity.
25-29 Broad Street has direct access to the Garden State Parkway, Route 3, and Route 21. The property is a five minute walk to the Bloomfield Train Station, which offers a direct 30 minute route to Manhattan and is approximately five minutes to the Glenwood Ave Bus Stop. Additionally, the property is located approximately 14 miles from Newark Liberty Airport and 25 miles from Manhattan.
Bloomfield has been at the forefront of the development-boom in Northern New Jersey, featuring numerous new residential complexes and a revitalized downtown.

Exclusively Listed By

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